The Supreme Court had given a deadline of March 19 to pay all the dues to Ericsson. Mukesh Ambani paid around Rs 460 crore to RCom's operational creditor Ericsson from his personal wealth to bail out RCom.

Last year in April, both Reliance Industries and JM Financial Asset Reconstruction Company submitted the CIRP resolution plan to acquire the debt-ridden textile manufacturer Alok Industries to National Company Law Tribunal (Ahmedabad Bench).

While RCom and its financial lenders fight over the Rs 260 crore tax refund that the company wants to tap to repay Ericcson, the appellate tribunal warns that failure to make the payment will compel it to pass orders for insolvency.